China's Hygeia Healthcare hits 2-month peak on deal to expand network

Hygeia Healthcare Holdings Co

26/07/2023 07:50

** Shares of Chinese oncology-focused healthcare group
Hygeia Healthcare Holdings Co Ltd  6078.HK  rise as much as 7.8%
to HK$51, highest since May 23
    ** Stock on course for fourth consecutive session of gains
    ** Shanghai-based company plans to acquire 100% stake in
Chang'an Hospital Co Ltd for about 1.66 bln yuan ($231.92 mln)
in a move to fill the gap, expand its brand influence and
healthcare service network in the northwest region of China
    ** Company says it will buy the stake from Datang Healthcare
Corp and Ningbo Meishan Bonded Area Chang'an Yongquan Investment
Management 
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.5%
while healthcare index  .HSCIH  climbs 0.5%
    ** Both Hang Seng Composite Index  .HSCI  and Hang Seng
Index  .HSI  gain 0.4%
    ** As of last close, the stock had fallen 15.5% this year


($1 = 7.1575 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))